Shared Mobility - Colombia

Colombia

Highlights

Colombia is expected to witness a significant growth in the Shared Mobility market in the coming years.
The projected revenue for this market is US$4.29bn by 2024.
Furthermore, it is anticipated that the revenue will grow at a Compound Annual Growth Rate (CAGR) of 3.77% from 2024-2029, resulting in a market volume of US$5.16bn by 2029.
The Flights market is the largest market in Colombia, with a projected market volume of US$2.06bn in 2024.
It is estimated that the number of users in the Public Transportation market will reach 34.37m users by 2029.
In 2024, user penetration in the Shared Mobility market will be 66.5%, which is expected to decline slightly to 73.1% by 2029.
The average revenue per user (ARPU) is expected to be US$123.20.
It is anticipated that online sales will account for 63% of the total revenue generated in this market by 2029.
In comparison to other countries, China is projected to generate the highest revenue of US$365bn in 2024 in the Shared Mobility market.
Colombia's shared mobility market is experiencing a surge in demand due to increasing traffic congestion and a growing interest in sustainable transportation options.

Key regions:

Definition:

The Shared Mobility market encompasses a diverse range of long- and short-distance mobility services. As the world moves towards a more connected and digital era, the Shared Mobility market is central to driving innovation, collaboration, and the development of intelligent transportation systems.

Structure:

The market consists of eleven further markets. These include the following markets:

The Car Rentals market contains vehicle rentals that have been booked in person, by telephone via the internet or an app.
The Car-sharing market includes professionally run car-sharing services that provide on-demand access vehicles, allowing users to rent cars for short periods, e.g., by minute or hour.
The Bike-sharing market contains short-term bike-sharing services. Bicycles can be found in the provider’s business zone where they are either parked at designated stations or freely distributed without fixed docks.
The Ride-hailing market encompasses on-demand transportation services facilitated through mobile apps or online platforms. This market covers both private vehicle rides and taxi services, all booked exclusively online.
The Taxi market covers exclusively traditional taxi services booked offline, typically via street hailing or phone calls.
The Flights market contains air travel bookings regardless of the purchase channel, such as an airline's website or a travel agency.
In the Public Transportation market, revenues generated by ticket sales from public transportation companies are considered.

Additional Information:

The main performance indicators of the Shared Mobility market are revenues, average revenue per user (ARPU), user numbers and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. User numbers show only those individuals who have made a reservation, independent of the number of travelers on the booking. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked rides made by users from the selected region, regardless of where the ride took place.

For further information on the data displayed, refer to the info button right next to each box.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Shared Mobility market in Colombia has been experiencing significant growth and evolution in recent years.

Customer preferences: Colombian consumers are increasingly valuing convenience, affordability, and sustainability when it comes to transportation options. This shift in preferences has led to a rising demand for shared mobility services such as ride-hailing, bike-sharing, and car-sharing. Customers are looking for flexible and cost-effective alternatives to traditional car ownership, especially in urban areas where traffic congestion and parking limitations are common.

Trends in the market: One of the key trends shaping the Shared Mobility market in Colombia is the growing popularity of electric scooters and bikes. These eco-friendly modes of transportation are not only convenient for short trips but also align with the country's focus on sustainability and reducing carbon emissions. Additionally, partnerships between shared mobility providers and public transportation systems are on the rise, offering commuters seamless multimodal options for their daily travels.

Local special circumstances: Colombia's unique geography and urban landscape play a significant role in shaping the Shared Mobility market. With cities characterized by dense populations and diverse topographies, there is a need for versatile transportation solutions that can navigate through narrow streets and hilly terrains. This has led to the introduction of specialized shared mobility services tailored to the local environment, such as motorbike taxis and micro-mobility options.

Underlying macroeconomic factors: The development of the Shared Mobility market in Colombia is also influenced by macroeconomic factors such as rising urbanization rates, increasing disposable incomes, and technological advancements. As more Colombians move to urban centers and embrace digital platforms for everyday activities, the adoption of shared mobility services is expected to continue growing. Moreover, the government's efforts to improve infrastructure and promote sustainable transportation are creating a conducive environment for the expansion of shared mobility options across the country.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and online shares of car rentals, ride-hailing, taxi, car-sharing, bike-sharing, e-scooter-sharing, moped-sharing, trains, buses, public transportation, and flights.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.